Celsius Resources Limited — Capital/Financing Update 2003

Aug 31, 2003

View Resources Ltd

ABN 95 009 162 949

945 Wellington Street West Perth, Western Australia 6005 Telephone: +61 8 9322 7600 Fax: $+61893227602$

1 September 2003

Manager Company Announcements Australian Stock Exchange Limited Level 6, 20 Bridge Street Sydney NSW 2000

Via e-lodgement

No. Pages: 9

ISSUE OF SHARES PURSUANT TO PLACEMENT

The Company confirms that it has today completed the placement of 50,000,000 ordinary fully paid shares at 4 cents per share as announced to ASX on 26 August 2003.

An Appendix 3B is attached applying for quotation of the securities detailed above.

In accordance with ASIC Class Order 02/1180 the Company advises that there is no information of a kind set out in Section 713 (5) of the Corporations Act that must be disclosed.

Yours faithfully

PETER LANDAU Director/Company Secretary

Rule 2.7, 3.10.3, 3.10.4, 3.10.5

Appendix 3B

New issue announcement. application for quotation of additional securities and agreement

Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX's property and may be made public.

Introduced 1/7/96. Origin: Appendix 5. Amended 1/7/98. 1/9/99. 1/7/2000. 30/9/2001. 11/3/2002.

Name of entity

VIEW RESOURCES LIMITED

ABN

95 009 162 949

We (the entity) give ASX the following information.

Part 1 - All issues

You must complete the relevant sections (attach sheets if there is not enough space).

⁺Class of ⁺securities issued or to be $\mathbf{1}$ issued

Fully Paid Ordinary Shares (quoted)

• Number of +securities issued or to $\mathcal{D}$ be issued (if known) or maximum number which may be issued
• $\overline{3}$ Principal terms of the +securities (eg, if options, exercise price and date; if partly expiry paid +securities, the amount outstanding and due dates for payment; if +convertible securities, the conversion price and dates for conversion)

50,000,000 fully paid ordinary shares

$\overline{NA}$

⁺ See chapter 19 for defined terms.

4	Do the +securities rank equally in all respects from the date of allotment with an existing +class of quoted +securities?	Yes
	If the additional securities do not rank equally, please state: the date from which they do which extent to the they participate for the next dividend, (in the case of a trust. distribution) or interest payment • the extent to which they do not rank equally, other than in relation to the next dividend,
	distribution or interest payment
5	Issue price or consideration	4 cents per share
6	Purpose of the issue (If issued as consideration for the acquisition of assets, clearly identify those assets)	Funds raised will be used to commence mining activities on the Company's Carnilya Hill tenements and to conduct further exploration on both the Carnilya Hill and Kambalda Mining tenements.
7	Dates of entering *securities into uncertificated holdings or despatch of certificates	50,000,000 ordinary fully paid shares on or before 1 September 2003
		ించింద Number

		Number	$^{\ast}$ Class
8	and $\text{``class}$ of all 455,133,554* Number		Ordinary	Fully	Paid
	*securities quoted – ASX on.		Shares
	( including the securities in clause $2 \mid$
	if applicable)

* Note: 100,000,000 ordinary fully paid shares are subject to a voluntary 12 month escrow period.

⁺ See chapter 19 for defined terms.

9 3,000,000 Options (exercisable at 1 Cent each on or Number and class of all securities not quoted on before 12 August 2006); ASX. (including) the 10,000,000 securities in clause 2 if Options (Employee) (exercisable at 3.5 Cents between 12 August 2004 and 31 applicable) December 2006; 250,000,000 Incentive Shares (comprising 80,000,000 Class A Incentive Shares, 85,000,000 Class B Incentive Shares and 85,000,000 Class C Incentive Shares) convertible into shares upon the satisfaction of key performance events.		Number	$^+$ Class

Dividend policy (in the 10 case of a trust, distribution policy) on the increased capital (interests)

Part 2 - Bonus issue or pro rata issue

11	approval security holder Is required?	N/A
12	Is the issue renounceable or non- renounceable?	N/A
13	Ratio in which the $\pm$ securities will $\parallel N/A$ be offered
14	+ Class of + securities to which the offer relates	N/A
15	determine + Record date 10 10 entitlements	N/A
16	Will holdings on different registers (or subregisters) be aggregated for calculating entitlements?	N/A
17	Policy for deciding entitlements in relation to fractions	N/A

⁺ See chapter 19 for defined terms.

Appendix 3B New issue announcement

18	Names of countries in which the N/A entity has +security holders who will not be sent new issue documents Note: Security holders must be told how their entitlements are to be dealt with. Cross reference: rule 7.7.
19	N/A Closing for receipt оf date acceptances or renunciations
20	N/A Names of any underwriters
21	N/A Amount of any underwriting fee or commission
22	N/A Names of any brokers to the issue
23	N/A Fee or commission payable to the broker to the issue
24	N/A Amount of any handling fee payable to brokers who lodge acceptances Or renunciations on behalf of +security holders
25	N/A If the issue is contingent on +security holders' approval, the date of the meeting
26	N/A entitlement and acceptance Date: form and prospectus or Disclosure Product Statement will be sent to persons entitled
27	If the entity has issued options, and N/A the terms entitle option holders to participate on exercise, the date on which notices will be sent to option holders
28	Date rights trading will begin (if N/A applicable)
29	Date rights trading will end (if N/A

⁺ See chapter 19 for defined terms.

	applicable)
30	How do *security holders sell their entitlements in full through a broker?	N/A
31	How do *security holders sell part of their entitlements through a broker and accept for the balance?	N/A
32	How do *security holders dispose of their entitlements (except by sale through a broker)?	N/A
33	+ Despatch date	N/A

Part 3 - Quotation of securities

You need only complete this section if you are applying for quotation of securities

• 34 Type of securities (tick one)
• Securities described in Part 1 $(a)$
• $(b)$

All other securities

Example: restricted securities at the end of the escrowed period, partly paid securities that become fully paid, employee incentive share securities when restriction ends, securities issued on expiry or conversion of convertible securities

Entities that have ticked box 34(a)

Additional securities forming a new class of securities

(If the additional securities do not form a new class, go to $43$ )

Tick to indicate you are providing the information or documents

• 35 If the "securities are "equity securities, the names of the 20 largest holders of the additional *securities, and the number and percentage of additional *securities held by those holders
• If the *securities are *equity securities, a distribution schedule of the additional 36 *securities setting out the number of holders in the categories $1 - 1,000$ $1,001 - 5,000$ $5,001 - 10,000$ $10,001 - 100,000$ 100,001 and over

$+$ See chapter 19 for defined terms.

37

A copy of any trust deed for the additional *securities

$(now go to 43)$

Entities that have ticked box 34(b)

• 38 Number of securities for which ⁺quotation is sought
• Class of ⁺securities for which 39 quotation is sought
• 40 Do the *securities rank equally in all respects from the date of allotment with an existing ⁺class of quoted *securities?

If the additional securities do not rank equally, please state:

• the date from which they do
• $\bullet$ the extent to which they participate for the next dividend, (in the case of a trust, distribution) or interest payment
• the extent to which they do not rank equally, other than in relation to the next dividend, distribution or interest payment
• Reason for request for quotation 41 now

Example: In the case of restricted securities, end of restriction period

(if issued upon conversion of another security, clearly identify that other security)

$+$ See chapter 19 for defined terms.

42 Number and *class of all *securities quoted on ASX (including the securities in clause 38)

	Number	+ Class
7

(now go to $43$ )

All entities

Fees

43 Payment method (tick one)

Cheque attached

Electronic payment made

Note: Payment may be made electronically if Appendix 3B is given to ASX electronically at the same time.

Periodic payment as agreed with the home branch has been arranged Note: Arrangements can be made for employee incentive schemes that involve frequent issues of securities.

Quotation agreement

• $\mathbf{I}$ *Ouotation of our additional *securities is in ASX's absolute discretion. ASX may quote the *securities on any conditions it decides.
• $\overline{2}$ We warrant the following to ASX.
• The issue of the *securities to be quoted complies with the law and is not for an illegal purpose.
• There is no reason why those *securities should not be granted *quotation.
• An offer of the "securities for sale within 12 months after their issue will not require disclosure under section $707(3)$ or section $1012C(6)$ of the Corporations Act.

Note: An entity may need to obtain appropriate warranties from subscribers for the securities in order to be able to give this warranty

Section 724 or section 1016E of the Corporations Act does not apply to any applications received by us in relation to any *securities to be quoted and that no-one has any right to return any *securities to be quoted under sections 737, 738 or 1016F of the Corporations Act at the time that we request that the *securities be quoted.

⁺ See chapter 19 for defined terms.

• We warrant that if confirmation is required under section 1017F of the $\bullet$ Corporations Act in relation to the *securities to be quoted, it has been provided at the time that we request that the 'securities be quoted.
• If we are a trust, we warrant that no person has the right to return the $\bullet$ *securities to be quoted under section 1019B of the Corporations Act at the time that we request that the *securities be quoted.
• We will indemnify ASX to the fullest extent permitted by law in respect of any $\mathfrak{Z}$ claim, action or expense arising from or connected with any breach of the warranties in this agreement.
• $\overline{4}$ We give ASX the information and documents required by this form. If any information or document not available now, will give it to ASX before *quotation of the *securities begins. We acknowledge that ASX is relying on the information and documents. We warrant that they are (will be) true and complete.

Sign here: ......................................

Print name: PETER LANDAU, DIRECTOR & COMPANY SECRETARY

$m = m$ $m = m$ $m = m$

$+$ See chapter 19 for defined terms.